A study on congestion management improvement in ERCOT market

Author

Yu, Jun ; Teng, Shuye ; Whittle, Brandon ; Ren, Yongjun

Author_Institution

Electric Reliability Council of Texas, Taylor, TX

fYear

0

fDate

0-0 0

Abstract

Three methods have been proposed to improve energy deployment efficiency in deregulated power markets. The advantages of adopting shadow price caps include: predefined deployment stop point, predefined adjustable penalty costs, rational and usable prices, and effective deployment. Virtual offer is a practical way to set energy price caps. Virtual offers stop the system from deploying offers that are less efficient than them. Virtual offers have an indirect influence on shadow prices. The limit of virtual offers resides in the fact that deployment of virtual offers does not convey a very clear physical meaning in many cases. Shift factor grouping improves deployment efficiency by eliminating deployments that have too little effect on relieving constraints. Real examples as well as studies are given to compare the pros and cons of the three methods

Keywords

power markets; power system management; pricing; ERCOT market; congestion management improvement; deregulated power markets; energy deployment efficiency; predefined adjustable penalty costs; predefined deployment stop point; rational prices; shadow price caps; usable prices; virtual offer; Costs; Energy management; Power generation; Power generation economics; Power markets; Power system dynamics; Power system management; Power system reliability; Power system security; Voltage; Congestion Management; Offer Cap; Price Cap; Price Spike; Shadow Price; Shift Factor; Virtual Bidding; Virtual Offer;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society General Meeting, 2006. IEEE

Conference_Location

Montreal, Que.

Print_ISBN

1-4244-0493-2

Type

conf

DOI

10.1109/PES.2006.1709004

Filename

1709004